University of San Carlos
P. del Rosario St., Cebu City
A Compilation of the
Activities in AC 516 and reflection papers
Submitted by:
Alvez, Jane
Chua, Jeremiah
Guerra, Paola Dawn
Mamalias, Vanessa
Ponla, Kyle Tristan
Group 6
AC 516
MW (1:30-4:30pm)
Submitted to:
Mrs. Marilyn Cortes, CPA
Professor
TABLE OF CONTENTS
➢ Concept Map
➢ Concept Map Explanation
➢ Focus Notes Reflection
➢ Focus Notes Compilation
➢ Concept Map Reflection
➢ Concept Map Compilation
➢ Workbook Reflection
➢ Workbook Compilation
➢ Post-quiz Reflection
➢ Post-quiz Compilation
➢ Major Exam Reflection
➢ Major Exam Compilation
➢ PSA Compilation (softbound)
CONCEPT MAP EXPLANATION
Our concept map embodies the very definition of Auditing itself. Throughout this course,
we have learned a lot of knowledge and ideas which has built our understanding as to the world
of Auditing. Auditing begins with an Independent Auditor, Independent in the sense that he is
free from bias in conducting the audit. There are three basic types of auditors: External Auditors
focusing on Financial Statement Audits, Internal Auditors for Operational Audits, and
Government Auditors for Compliance Audit. All these auditors follow a Professional Code of
Ethics in performing their work.
Auditors follow a systematic process which is reiterated in the Audit Plan. The work to
be performed for the entirety of the audit is planed so the audit may be conducted effectively and
efficiently. Following a systematic process strengthens the effectiveness of the audit.
In obtaining and evaluating evidence, the auditor employs audit procedures such as
